HIST 310 Lecture 21: 11_29
30 Nov 2016
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Greece at the time economically stable, long life expectancy etc. Long period of effective 2 party syst. Later on, entrance of coalition of the radical left (syriza) Falling apart/abandoned athens olympics hav become symbol of present decay. Before, bureaucracy had been nonpartisan--now party members. Rise in ranks/wages no longer up in the air--uniform progression. Misreporting to eu (the immediate cause of econ crash) Lack of citizen trust to state institutions. Parties would recruit from uni youth orgs. Costas simitis withdrawing first euros in greece (2002) 2002 was when greece bcame part of eurozone. Had benefited greatly from recovery of balkans/eastern bloc. Problem of having common currency/no control over currency but still independent econ policy. Assumptions that germany/france/etc were backing euro/would come to aid of less developed countries if they needed it. Greece less able to borrow from foreign entities. Not able to pay foreign debts, govt workers, etc. Memorandum of economic and financial policies (may 2010)
